SomeraRoad Inc. secured a public financing framework that will support 13 new-build and historic renovation projects in a $526.7 million “live-work-play” redevelopment it plans to carry out in Kansas City’s West Bottoms over the next 15 years.
The city’s Planned Industrial Expansion Authority on Thursday voted 10-2 to approve $64.3 million in incentives for the New York developer to build 1,102 apartments, 40 hotel rooms, 137,923 square feet of retail space and 122,794 square feet of office space over more than 17 acres in the central West Bottoms.
“We are excited to take this important step in continuing a transformative public/private partnership with the City of Kansas City,” said Andrew Donchez, a principal at SomeraRoad, in a statement after the PIEA’s vote. “The PIEA’s investment in the revitalization of the West Bottoms through supporting the creation of much needed housing, historic preservation, infrastructure, safety improvements and public spaces will be a catalyst for job creation, economic development and future growth.”
The city’s Tax Increment Financing Commission is scheduled Nov. 14 to review a TIF plan that would fund an approximately $58 million overhaul of the neighborhood’s public utilities and infrastructure, some of which dates back more than 120 years, plus streetscape beautification and blight removal.
Additional TIF plan proceeds also are planned to help SomeraRoad comply with the city’s affordable housing set-aside requirements, according to PIEA documents.
Pending remaining approvals, SomeraRoad plans to start work in November with demolition of the former Weld Wheel Industries Inc. building to create a new apartment site. From there, it looks to start its first infrastructure work in April, corresponding with its start of private construction.
An updated breakdown of SomeraRoad’s phased plans is as follows. The figures are based on details the developer provided SB Friedman; most fall within broader unit and square footage ranges shared in a developer presentation Thursday, illustrating their potential to change as project phases progress.
Phase One:
- 290 new apartments, 9,207 retail square feet in place of the Weld Wheel building: $86 million (2025-2028)
- Adaptive reuse of the Moline Plow Building with 121 apartments, 23,187 retail square feet: $52.2 million (2024-2027)
- Renovation of the Avery Building as a 40-key hotel: $25.5 million (2024-2025)
- Adaptive reuse of the Perfection Stove Co. Building with 32,752 office square feet, 23,920 retail square feet: $21.3 million (2024-2026)
- Adaptive reuse of the Crooks Terminal Warehouse Co. Building with 75,250 office square feet, 30,411 retail square feet: $33.5 million (2024-2027)
Phase Two:
- 178 new apartments, 12,458 retail square feet in place of boxing gym northwest of 11th and Mulberry streets: $59.3 million (2027-2030)
- Renovation of former fire station at 1215 Union Ave. with 3,000 retail square feet: $2.9 million (2026-2027)
Phase Three:
- 210 new apartments, 4,086 retail square feet next to the Edge of Hell Haunted House: $79.3 million (2030-2033)
- Alternate scenario project could include 150,000 office square feet
Phase Four:
- 76 new apartments on lot northeast of Weld Wheel apartment site: $31.8 million (2033-2038)
- 72 new apartments, 1,575 retail square feet on lots northwest of Mulberry Street and Union Avenue: $27.1 million (2033-2035)
Phase Five:
- Adaptive reuse of the Crane Co. Building with 40 apartments: $26.8 million (2035-2037)
- Adaptive reuse of the Kansas City Bolt Nut & Screw Co. Building with 45 apartments, 10,230 retail square feet: $31.4 million (2036-2038)
- Adaptive reuse of the Macabre Cinema Haunted House with 70 apartments, 13,797 retail square feet: $49.7 million (2036-2038)
- Alternate adaptive reuse of Macabre building could include 40,000-60,000 office square feet, 10,000-15,000 commercial square feet
